NEAR Protocol Surges on Institutional Buying, Recovers 8% from Key Support Zone

NEAR Protocol demonstrated formidable resilience during the July 30-31 trading session, recovering sharply from mid-session lows of $2.52 to close at $2.73. The bounce—amounting to an 8.27% rebound—coincided with high-volume activity, particularly among corporate trading desks and institutional asset managers. Analysts interpret this as a sign of strategic accumulation, likely driven by growing confidence in NEAR’s enterprise blockchain ambitions. Institutional activity was most evident on July 30 between 18:00 and 19:00, when NEAR experienced a steep drop from $2.68 to $2.52 on a volume spike exceeding 9.60 million shares. This selloff defined a critical accumulation zone. From that base, NEAR steadily recovered through the overnight session, with corporate traders defending the $2.52 support level and methodically accumulating positions. The final trading hour on July 31—from 09:05 to 10:04—offered further evidence of institutional participation. While headline gains for that hour were modest at just 0.15%, sustained volume surges above 28,000 shares per transaction pushed NEAR through resistance at $2.725. Strategic buys at 09:17, 09:25, 09:52, and 10:01 highlighted coordinated positioning by sophisticated investors preparing for longer-term enterprise adoption. Industry experts note that NEAR’s performance is emblematic of a broader trend in which institutional investors selectively allocate capital to Layer 1 blockchain protocols with perceived enterprise integration potential. Technical Analysis Summary: Trading Range: $2.52 (support) to $2.74 (resistance), representing 7.83% volatility. Volume Spike: 9.60 million shares traded during July 30 18:00–19:00 selloff. Institutional Accumulation Zone: $2.52–$2.55 identified as key support. Final Hour Trading (July 31 09:05–10:04): Modest gain of 0.15% from $2.72 to $2.73. Volume >28,000 shares at each strategic entry (09:17, 09:25, 09:52, 10:01). Resistance at $2.725 decisively breached. Net Session Gain: +2.87% across 23 hours. Cumulative Institutional Rebound: +8.27% from $2.52 to $2.73. Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards . For more information, see CoinDesk’s full AI Policy .

Source: CoinDesk